Parke Bancorp, Inc. (NASDAQ:PKBK) CEO Vito S. Pantilione Purchases 500 Shares

Key Points

• CEO Vito S. Pantilione of Parke Bancorp acquired 500 shares of the company at an average price of $20.89, totaling $10,445, raising his ownership to 227,760 shares.
• The company recently announced a quarterly dividend of $0.18 per share, reflecting a 3.3% dividend yield and a payout ratio of 28.02%.
• Parke Bancorp's market capitalization stands at $258.57 million, with a most recent PE ratio of 8.49, marking significant growth potential despite a recent rating downgrade from "buy" to "hold" by analysts.

Parke Bancorp, Inc. (NASDAQ:PKBK - Get Free Report) CEO Vito S. Pantilione purchased 500 shares of the company's stock in a transaction on Thursday, July 31st. The stock was bought at an average price of $20.89 per share, for a total transaction of $10,445.00. Following the completion of the purchase, the chief executive officer directly owned 227,760 shares of the company's stock, valued at $4,757,906.40. The trade was a 0.22% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Parke Bancorp Stock Performance

Shares of NASDAQ PKBK traded down $0.31 during mid-day trading on Friday, hitting $21.40. 15,163 shares of the company were exchanged, compared to its average volume of 24,493. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.46. The stock has a 50 day simple moving average of $20.76 and a 200-day simple moving average of $19.68. Parke Bancorp, Inc. has a 1-year low of $16.94 and a 1-year high of $24.29. The firm has a market cap of $253.59 million, a price-to-earnings ratio of 8.33 and a beta of 0.64.

Parke Bancorp (NASDAQ:PKBK - Get Free Report) last issued its quarterly earnings results on Wednesday, July 16th. The bank reported $0.69 earnings per share for the quarter. Parke Bancorp had a return on equity of 10.21% and a net margin of 22.44%. The firm had revenue of $18.69 million during the quarter.

Parke Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 18th. Shareholders of record on Thursday, July 3rd were issued a $0.18 dividend. The ex-dividend date of this dividend was Thursday, July 3rd. This represents a $0.72 dividend on an annualized basis and a yield of 3.4%. Parke Bancorp's dividend payout ratio (DPR) is 28.02%.

Institutional Investors Weigh In On Parke Bancorp

A number of hedge funds and other institutional investors have recently bought and sold shares of PKBK. Fourthstone LLC lifted its holdings in Parke Bancorp by 243.3% in the second quarter. Fourthstone LLC now owns 200,838 shares of the bank's stock valued at $4,091,000 after acquiring an additional 142,334 shares during the period. Ategra Capital Management LLC lifted its holdings in Parke Bancorp by 52.1% in the fourth quarter. Ategra Capital Management LLC now owns 344,741 shares of the bank's stock valued at $7,071,000 after acquiring an additional 118,069 shares during the period. Goldman Sachs Group Inc. lifted its holdings in Parke Bancorp by 228.3% in the first quarter. Goldman Sachs Group Inc. now owns 105,700 shares of the bank's stock valued at $1,991,000 after acquiring an additional 73,505 shares during the period. Nuveen LLC acquired a new stake in Parke Bancorp in the first quarter valued at $571,000. Finally, Citadel Advisors LLC acquired a new stake in Parke Bancorp in the fourth quarter valued at $617,000. Institutional investors and hedge funds own 49.69% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen lowered shares of Parke Bancorp from a "buy" rating to a "hold" rating in a research report on Saturday, June 7th.

Parke Bancorp Company Profile

Parke Bancorp, Inc operates as the bank holding company for Parke Bank that provides personal and business financial services to individuals and small to mid-sized businesses. The company offers various deposit products, including checking, savings, time, money market, and individual retirement accounts, as well as certificates of deposit.